Arista Networks, Inc. (NYSE:ANET) Shares Bought by Commonwealth of Pennsylvania Public School Empls Retrmt SYS

Commonwealth of Pennsylvania Public School Empls Retrmt SYS lifted its holdings in Arista Networks, Inc. (NYSE:ANET - Free Report) by 291.7% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 219,647 shares of the technology company's stock after buying an additional 163,569 shares during the quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS's holdings in Arista Networks were worth $24,278,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Anchor Investment Management LLC lifted its holdings in Arista Networks by 35.0% during the 3rd quarter. Anchor Investment Management LLC now owns 135 shares of the technology company's stock valued at $52,000 after buying an additional 35 shares in the last quarter. Freedom Investment Management Inc. raised its stake in shares of Arista Networks by 2.3% during the third quarter. Freedom Investment Management Inc. now owns 1,621 shares of the technology company's stock valued at $622,000 after acquiring an additional 36 shares in the last quarter. LRI Investments LLC boosted its holdings in shares of Arista Networks by 3.1% in the third quarter. LRI Investments LLC now owns 1,368 shares of the technology company's stock valued at $528,000 after purchasing an additional 41 shares during the period. Rehmann Capital Advisory Group boosted its holdings in shares of Arista Networks by 3.8% in the third quarter. Rehmann Capital Advisory Group now owns 1,177 shares of the technology company's stock valued at $453,000 after purchasing an additional 43 shares during the period. Finally, Brooklyn Investment Group grew its stake in Arista Networks by 3.3% in the third quarter. Brooklyn Investment Group now owns 1,862 shares of the technology company's stock worth $715,000 after purchasing an additional 59 shares in the last quarter. 82.47% of the stock is owned by institutional investors.

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Analysts Set New Price Targets

Several equities research analysts have weighed in on the company. StockNews.com cut Arista Networks from a "buy" rating to a "hold" rating in a report on Thursday, December 12th. Evercore ISI upped their price objective on shares of Arista Networks from $110.00 to $130.00 and gave the stock an "outperform" rating in a research note on Friday, January 17th. The Goldman Sachs Group reissued a "buy" rating on shares of Arista Networks in a research report on Monday, March 3rd. Citigroup upped their price target on shares of Arista Networks from $115.00 to $121.00 and gave the stock a "buy" rating in a research report on Wednesday, February 19th. Finally, UBS Group raised shares of Arista Networks from a "neutral" rating to a "buy" rating and lifted their price objective for the company from $112.00 to $115.00 in a report on Wednesday, March 5th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat.com, Arista Networks presently has a consensus rating of "Moderate Buy" and an average price target of $114.00.

Arista Networks Stock Up 5.3 %

Shares of Arista Networks stock traded up $4.45 during trading on Monday, reaching $87.58. The company's stock had a trading volume of 10,398,418 shares, compared to its average volume of 8,579,393. Arista Networks, Inc. has a 1-year low of $60.08 and a 1-year high of $133.58. The company has a 50-day simple moving average of $102.53 and a two-hundred day simple moving average of $101.89. The company has a market cap of $110.44 billion, a price-to-earnings ratio of 39.45, a P/E/G ratio of 3.10 and a beta of 1.08.

Arista Networks (NYSE:ANET - Get Free Report) last issued its quarterly earnings results on Tuesday, February 18th. The technology company reported $0.59 earnings per share for the quarter, topping the consensus estimate of $0.57 by $0.02. Arista Networks had a return on equity of 29.91% and a net margin of 40.72%. The business had revenue of $1.93 billion during the quarter, compared to the consensus estimate of $1.90 billion. As a group, analysts anticipate that Arista Networks, Inc. will post 2.2 earnings per share for the current year.

Insiders Place Their Bets

In related news, CEO Jayshree Ullal sold 138,351 shares of Arista Networks stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $93.88, for a total transaction of $12,988,391.88. Following the completion of the sale, the chief executive officer now owns 92,641 shares of the company's stock, valued at $8,697,137.08. The trade was a 59.89 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, SVP Kenneth Duda sold 80,000 shares of the stock in a transaction that occurred on Thursday, March 6th. The stock was sold at an average price of $84.85, for a total transaction of $6,788,000.00. Following the completion of the transaction, the senior vice president now owns 12,976 shares in the company, valued at approximately $1,101,013.60. This trade represents a 86.04 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 491,001 shares of company stock valued at $49,112,111. Insiders own 3.54% of the company's stock.

About Arista Networks

Arista Networks, Inc engages in the development, marketing, and sale of data-driven, client to cloud networking solutions for data center, campus, and routing environments in the Americas, Europe, the Middle East, Africa, and the Asia-Pacific. Its cloud networking solutions consist of Extensible Operating System (EOS), a publish-subscribe state-sharing networking operating system offered in combination with a set of network applications.